QuidelOrtho Co. (NASDAQ:QDEL) Major Shareholder Sells $1,822,579.47 in Stock

QuidelOrtho Co. (NASDAQ:QDEL) major shareholder Carlyle Group Inc. sold 59,973 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $30.39, for a total value of $1,822,579.47. Following the transaction, the insider now directly owns 11,189,751 shares in the company, valued at $340,056,532.89. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Carlyle Group Inc. also recently made the following trade(s):

• On Friday, July 5th, Carlyle Group Inc. sold 50,739 shares of QuidelOrtho stock. The shares were sold at an average price of $31.15, for a total value of $1,580,519.85.
• On Wednesday, July 3rd, Carlyle Group Inc. sold 52,724 shares of QuidelOrtho stock. The shares were sold at an average price of $30.87, for a total value of $1,627,589.88.
• On Monday, July 1st, Carlyle Group Inc. sold 81,110 shares of QuidelOrtho stock. The shares were sold at an average price of $32.21, for a total value of $2,612,553.10.
• On Friday, June 28th, Carlyle Group Inc. sold 49,937 shares of QuidelOrtho stock. The shares were sold at an average price of $33.05, for a total value of $1,650,417.85.
• On Wednesday, June 26th, Carlyle Group Inc. sold 81,482 shares of QuidelOrtho stock. The shares were sold at an average price of $33.19, for a total value of $2,704,387.58.
• On Monday, June 24th, Carlyle Group Inc. sold 73,713 shares of QuidelOrtho stock. The stock was sold at an average price of $34.34, for a total value of $2,531,304.42.
• On Thursday, June 20th, Carlyle Group Inc. sold 67,207 shares of QuidelOrtho stock. The stock was sold at an average price of $34.89, for a total value of $2,344,852.23.
• On Monday, June 17th, Carlyle Group Inc. sold 99,642 shares of QuidelOrtho stock. The stock was sold at an average price of $35.99, for a total value of $3,586,115.58.
• On Friday, June 14th, Carlyle Group Inc. sold 127,981 shares of QuidelOrtho stock. The stock was sold at an average price of $36.19, for a total value of $4,631,632.39.
• On Wednesday, June 12th, Carlyle Group Inc. sold 64,263 shares of QuidelOrtho stock. The stock was sold at an average price of $40.23, for a total value of $2,585,300.49.

QuidelOrtho Price Performance

QDEL stock traded down $0.05 during mid-day trading on Wednesday, reaching $29.96. 591,681 shares of the company’s stock were exchanged, compared to its average volume of 979,675. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -1.14 and a beta of 0.07. The stock’s 50 day moving average is $39.01 and its 200 day moving average is $49.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.55 and a quick ratio of 0.81. QuidelOrtho Co. has a 12-month low of $29.74 and a 12-month high of $89.11.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $697.33 million. QuidelOrtho had a positive return on equity of 3.96% and a negative net margin of 61.65%. On average, research analysts expect that QuidelOrtho Co. will post 1.85 EPS for the current year.

Hedge Funds Weigh In On QuidelOrtho

A number of hedge funds have recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its holdings in shares of QuidelOrtho by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,691 shares of the company’s stock valued at $1,746,000 after acquiring an additional 230 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of QuidelOrtho by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $681,000 after acquiring an additional 300 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of QuidelOrtho by 2.5% during the first quarter. State of Michigan Retirement System now owns 12,127 shares of the company’s stock valued at $581,000 after acquiring an additional 300 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of QuidelOrtho by 6.9% during the fourth quarter. New York Life Investment Management LLC now owns 5,509 shares of the company’s stock valued at $406,000 after acquiring an additional 355 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of QuidelOrtho by 27.0% during the second quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $59,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their target price on QuidelOrtho from $81.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.00.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.